Bionik Laboratories Announces Agreement with The Transitional Learning Center for InMotion Arm Robotic Systems
Second institution to take advantage of new rental option
Bionik Laboratories Corp. (OTCQB: BNKL) (“Bionik” or the “Company”), a robotics company focused on providing rehabilitation and assistive technology solutions to individuals with neurological and mobility challenges from hospital to home, today announced it has delivered two of its InMotion Arm robotic systems to The Transitional Learning Center (“TLC”). TLC will utilize the two InMotion Arm robotic systems for use in its facilities in Galveston and Lubbock, Texas.
Bionik’s rental financing option, announced last year, offers healthcare providers access to its state-of-the-art rehabilitation products on a rental basis, which assists in managing upfront costs and avoids facility capital equipment budgeting cycles. Through the agreement, TLC will pay low monthly rental fees to utilize two InMotion Arm systems, spreading the cost over an extended period of time.
“Bionik’s InMotion Arm system advances our mission of treatment and rehabilitation by providing a new option for survivors of brain injury throughout the Galveston and Lubbock regions. We could not be more excited to be making this innovative technology available to our patients,” said Steve Takacs, President and CEO, The Transitional Learning Center. “We’d like to thank Mr. Moody, our founder, for his vision and generosity to ensure our treatment programs are at the forefront of the industry, allowing our patients the best opportunity to transition from a comprehensive rehabilitation setting to one based on community reentry as their functioning improves. We pride ourselves on offering industry-leading treatment programs to our patients and believe the InMotion Arm system further strengthens that portfolio.”
Established in 1982, TLC is considered a pioneer in the field of brain injury treatment and rehabilitation, providing survivors of acquired brain injury with a continuum of care to include residential post-acute brain injury rehabilitation, community reentry, and long-term supportive care. TLC provides a comprehensive neuro-rehabilitation program that includes neuropsychological services, cognitive rehabilitation, speech-language pathology, occupational therapy, physical therapy, therapeutic recreation, medical, nursing, and case management services. It was founded in Galvestonby philanthropist Robert L. Moody, Sr., after his son was severely injured in an auto accident 38 years ago, and has since helped almost 3,000 patients.
“This is the second healthcare institution to bring our leading rehabilitation and assistive robotic technologies to their patients via our rental program,” said Dr. Eric Dusseux, Chief Executive Officer of Bionik Laboratories. “TLC’s reputation for post-acute brain injury rehabilitation is well established and we are proud to be part of their program offerings. This partnership is another positive step for Bionik as we reach sales agreements in regional facilities across the U.S. through our rental option, which in turn shortens our sales cycle by providing financial flexibility to our customers. We look forward to a successful long-term partnership with TLC and to continuing to bring our innovative therapy solutions to patients in need.”
According to the Texas Brain Injury Alliance, 144,000 Texans sustain a traumatic brain injury each year, or one every four minutes. There are also more than 381,000 Texans living with a disability due to a traumatic brain injury – a substantial population that could benefit from Bionik’s InMotion Arm systems.